Pearl Holdings Acquisition Corp: debt financing — Pearl Holdings enters subscription agreement for up to $500K working capital from Polar

Pearl Holdings Acquisition Corp

Polar Multi-Strategy Master Fund commits up to $500,000; initial $250,000 call due within 5 business days.
Pearl will issue one Class A share per dollar funded at De-SPAC closing; repayment in cash or 1 share per $10.
Sponsor and SPAC jointly liable; default triggers penalty shares of 0.1 per dollar per month.
Discussions underway with additional investors to raise up to $1.5 million total.
Agreement includes registration rights; liquidation proceeds (outside trust) go to Polar if no deal.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Pearl Holdings Acquisition Corp incurred debt of up to $500,000 with Polar Multi-Strategy Master Fund maturing upon a De-SPAC Closing.

Principal: up to $500,000
Counterparty: Polar Multi-Strategy Master Fund
Maturity: upon a De-SPAC Closing
Event: incurrence

Exact text from the filing

On February 22, 2024, Pearl Holdings Acquisition Corp (the “Company”) entered into a subscription agreement (the “Subscription Agreement”) with Pearl Holdings Sponsor LLC (“Sponsor”) and Polar Multi-Strategy Master Fund (“Polar”), pursuant to which, and on the terms and subject to the conditions of which, Polar agreed to contribute up to $500,000 in cash to the Company (the “Capital Contribution”) to cover working capital expenses.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Pearl Holdings Acquisition Corp entered into Subscription Agreement with Pearl Holdings Sponsor LLC and Polar Multi-Strategy Master Fund valued at up to $500,000 (effective 2024-02-22).

Action: entry
Agreement: equity purchase
Counterparty: Pearl Holdings Sponsor LLC and Polar Multi-Strategy Master Fund
Value: up to $500,000
Effective: 2024-02-22

Exact text from the filing

On February 22, 2024, Pearl Holdings Acquisition Corp (the “Company”) entered into a subscription agreement (the “Subscription Agreement”) with Pearl Holdings Sponsor LLC (“Sponsor”) and Polar Multi-Strategy Master Fund (“Polar”), pursuant to which, and on the terms and subject to the conditions of which, Polar agreed to contribute up to $500,000 in cash to the Company (the “Capital Contribution”) to cover working capital expenses.

View on SEC.gov

299 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001829126-24-001187

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.